EXPAT MANAGEMENT GROUP: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
EXPAT MANAGEMENT GROUP
Largest movements
- Receivables within one year -€84,246
down €84,246 (-43.4%), from €193,971 to €109,725
of which Other amounts receivable: -€55,896
- Profit (loss) carried forward -€30,350
new in 2025: -€30,350
- Reserves -€24,625
no longer reported in 2025 (was €24,625)
- Short-term financial debts -€11,031
down €11,031 (-48.1%), from €22,917 to €11,886
- Trade debts -€10,206
down €10,206 (-13.9%), from €73,317 to €63,111
- Other debts -€10,000
down €10,000 (-97.4%), from €10,266 to €266
- Gross operating margin -€55,324
down €55,324 (-11.5%), from €481,972 to €426,648
- Staff costs -€16,051
down €16,051 (-3.3%), from €492,564 to €476,513
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €207,341 | €124,195 | -€83,145 | -40.1% |
| Fixed assets | 21/28 | €5,175 | €4,954 | -€221 | -4.3% |
| Tangible fixed assets | 22/27 | €1,573 | €602 | -€971 | -61.7% |
| Furniture and vehicles | 24 | €1,573 | €602 | -€971 | -61.7% |
| Financial fixed assets | 28 | €3,602 | €4,352 | +€750 | +20.8% |
| Current assets | 29/58 | €202,165 | €119,241 | -€82,924 | -41.0% |
| Amounts receivable within one year | 40/41 | €193,971 | €109,725 | -€84,246 | -43.4% |
| Trade receivables | 40 | €120,206 | €91,856 | -€28,350 | -23.6% |
| Other amounts receivable | 41 | €73,765 | €17,869 | -€55,896 | -75.8% |
| Cash at bank and in hand | 54/58 | €207 | - | -€207 | |
| Deferred charges and accrued income | 490/1 | €7,987 | €9,516 | +€1,529 | +19.1% |
| Total equity and liabilities | 10/49 | €207,341 | €124,195 | -€83,145 | -40.1% |
| Equity | 10/15 | €43,225 | -€11,750 | -€54,975 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,625 | - | -€24,625 | |
| Distributable reserves | 133 | €24,625 | - | -€24,625 | |
| Profit (loss) carried forward | 14 | - | -€30,350 | -€30,350 | |
| Amounts payable | 17/49 | €164,115 | €135,945 | -€28,170 | -17.2% |
| Amounts payable within one year | 42/48 | €164,115 | €135,945 | -€28,170 | -17.2% |
| Financial debts | 43 | €22,917 | €11,886 | -€11,031 | -48.1% |
| Credit institutions | 430/8 | €22,917 | €11,886 | -€11,031 | -48.1% |
| Trade debts | 44 | €73,317 | €63,111 | -€10,206 | -13.9% |
| Suppliers | 440/4 | €73,317 | €63,111 | -€10,206 | -13.9% |
| Taxes, remuneration and social security | 45 | €57,616 | €60,682 | +€3,067 | +5.3% |
| Taxes | 450/3 | €11,707 | €15,043 | +€3,336 | +28.5% |
| Remuneration and social security | 454/9 | €45,908 | €45,639 | -€269 | -0.6% |
| Other amounts payable | 47/48 | €10,266 | €266 | -€10,000 | -97.4% |
| Remuneration, social security and pensions | 62 | €492,564 | €476,513 | -€16,051 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,916 | €1,585 | -€1,331 | -45.6% |
| Other operating charges | 640/8 | €194 | €611 | +€417 | +215% |
| Gross operating margin | 9900 | €481,972 | €426,648 | -€55,324 | -11.5% |
| Operating profit (loss) | 9901 | -€13,702 | -€52,061 | -€38,359 | -280% |
| Financial income | 75/76B | €0 | €529 | +€528 | +125,767% |
| Recurring financial income | 75 | €0 | €529 | +€528 | +125,767% |
| Financial charges | 65/66B | €2,977 | €3,443 | +€466 | +15.6% |
| Recurring financial charges | 65 | €2,977 | €3,443 | +€466 | +15.6% |
| Profit (loss) for the period before taxes | 9903 | -€16,678 | -€54,975 | -€38,297 | -230% |
| Profit (loss) for the period | 9904 | -€16,678 | -€54,975 | -€38,297 | -230% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,678 | -€54,975 | -€38,297 | -230% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.